Tab_289L
WESTERN
FINANCIAL
GROUP
FINAL
Wire Instructions Memorandum
Alaska Municipal Bond Bank
$80,435,000 General Obligation and Refunding Bonds, 2016 Series Three
$29,400,000 General Obligation and Refunding Bonds, 2016 Series Four (AMT)
To: 2016 Series Three and 2016 Series Four Working Group
From Chip Pierce, Western Financial Group, LLC
Date October 30, 2016
The following are final wire instructions for the closing of the above referenced financing. The
closing will take place at 8:00 am (Pacific Time) on November 3, 2016, at the Seattle offices of
Orrick: 701 5th Avenue, Suite 5600. Pre-closing will take place at 11:00 am (Pacific Time) on
November 2, 2016, at the same location. Individuals from the borrowing communities that will
be attending the pre-closing in person should contact their bond counsel to confirm when they
should arrive.
There will be seven providers and one initial recipient of funds at closing. The providers will be
RBC Capital Markets ("RBC"), the senior managing underwriter of both series of the bonds, the
City of Kodiak ("Kodiak"), the City of Bethel ("Bethel"), the City of Ketchikan ("Ketchikan"), the
Kodiak Island Borough ("KIB"), the City of Seward ("Seward") and the Alaska Municipal Bond
Bank ("AMBB"). The initial recipient will be The Bank of New York Mellon Trust Company
("BNY"). BNY will receive all funds relating to the borrower project funds, prior reserve fund,
refunding escrow funds, and costs of issuance. BNY will then make subsequent wires to the
underlying borrowers related to their projects, costs of issuance and rounding amounts.
The table below presents the calculation of the funds wired by RBC to BNY on November 3, 2016:
Par Amount of 2016 Three Bonds $80,435,000.00
Plus: Original Issue Premium 9,180,555.75
Less: Underwriter's Discount (235,589.17
Total Wire Amount $89,379,966.58
Par Amount of 2016 Four Bonds $29,400,000.00
Plus: Original Issue Premium 4,118,869.55
Less: Underwriter's Discount (99,333.90)
Total Wire Amount $33,419,535.65
Phone.' (503) 719-6113
3300 NWl85th Ave., #270
Portland, OR 97229
Western Financial Group, LLC
Alaska Municipal Bond Bank
Final Wire Instructions Memorandum
General Obligation and Refunding Bonds -2016 Series Three and 2016 Series Four
On the morning of November 3, 2016, BNY will receive $122,799,502.23 from RBC for the 2016
Series Three and 2016 Series Four Bonds. Because the Bonds are dated the date of delivery, there
is no accrued interest associated with this issue.
On November 2, 2016, BNY will receive $319,683.64 from Bethel, representing the debt service
reserve fund associated with Bethel's 2007 Three loan from the Bond Bank, Of that total,
$102,183.64 will be applied to the refunding escrow for the refunding of the Bond Bank's 2007
Three Bonds. The balance of $217,500.00 will be held in the debt service reserve fund associated
with Bethel's 2016 Three refunding loan.
On Novemhei 2, 2016, BNY will receive $272,409.00 from KIB, representing excess bond proceeds
associated with KIB's 2008 One loan from the Bond Bank. That amount will be applied to the
refunding escrow for the refunding of the Bond Bank's 2008 One Bonds.
On November 2, 2016, BNY will receive $2,634,321.52 from Ketchikan, representing the debt
service reserve fund associated with Ketchikan's 2006 Two loan from the Bond Bank. Of that
total, $394,321.52 will be applied to the refunding escrow for the refunding of the Bond Bank's
2006 Two Bonds. The balance of $2,240,000.00 will be held in the debt service reserve fund
associated with Ketchikan's 2016 Four refunding loan.
On No ember 2, 2016, BNY will receive $247,300.02 from Seward, representing the debt service
reserve fund associated with Seward's 2007 harbor loan from the Bond Bank. That total will be
applied to the debt service reserve fund associated with Seward's 2016 Three refunding loan.
On November 3, 2016, BNY will hold a total of $508,774.95 of debt service reserve funds
associated with Kodiak's 2007 Five Harbor and Boat Lift loans and 2009 Boat lift loan from the
Bond Bank. BNY will apply those funds to the refunding escrow for the refunding of the Bond
Bank's 2007 Five and 2009 One Bonds.
Also on November 3, 2016, BNY will release $3,801,506.10 from the Bond Bank's 2005 Resolution
Reserve, the proceeds of which will be applied to the refunding escrow associated with the
reserve obligations related to the Bond Bank's 2006 Two, 2007 One, and 2007 Two Bonds, as well
as to a portion of the cost of the surety premium associated with the deposit to the 2005 debt
service reserve fund.
The table below summarizes the sources of the funds that BNY will hold on the morning of
November 3, 2016.
Source of Funds
City of Bethel Reserve Transfer
Kodiak Island Borough Proceeds Transfer
City of Ketchikan Reserve Transfer
City of Seward Reserve Transfer
City of Kodiak Reserve Funds
AMBB 2005 Resolution Reserve Release
Wires from RBC
Total Funds on Hand at BNY - 11/3/16
Date Funds Received by BNY Amount
November 2, 20-16 319,683.64
November 2, 2016 272,409.00
November 2, 2016 2,634,321.52
November 2, 2016 247,300.02
November 3, 2016 508,774.95
November 3, 2016 3,801,506.10
November 3, 2015 122,799,502.23
$130,583,497.46
The funds from Bethel, KIB, Ketchikan, and Seward will he wired to BNY on November 2,
2016, the day before the closing of the 2016 Three and 2016 Four bond issues.
The following are wire instructions for funds wired to BNY by RBC, Bethel, KIB, Ketchikan and
Seward:
Page 2
Alaska Municipal Bond Bank
Final Wire Instructions Memorandum
General Obligation and Refunding Bonds - 2016 Series Three and 2016 Series Four
THE BANK OF NEW YORK MELLON
ABA# 021000018
Account # 5103668400
Account Name: AMBB GO Bond Proceeds
The following table summarizes the allocation of the $130,583,497.46 total cash held by BNY on
November 3rd:
Recipient Amount
Deposit to AMBB 2016 Three and 2016 Four Redemption Accounts $102,947,946.82
Deposit to CBJ 2008 Redemption Account 18,755,998,27
Petersburg Borough (includes borrower COI & rounding) 11,663.31
City of Nome (includes borrower COT & rounding) 5,292.24
Northwest Arctic Borough (includes borrower COT & rounding) 14,085.38
City of Seward (includes borrower COI & rounding) 25,536.75
City of Wasilla (includes borrower COT & rounding) 7,981.81
City and Borough of Sitka (includes borrower COT & rounding) 10,815.49
Aleutians East Borough (includes borrower COT & rounding) 29,678.27
Kenai Peninsula Borough (includes borrower COT & rounding) 22,697.98
City of Bethel (includes borrower COT & rounding) 18,111.35
Deposit to Bethel Reserve Fund 217,500.00
City of Kodiak (includes borrower COT & rounding) 27,285.00
Deposit to Kodiak Reserve Fund 461,581.28
City of Dillingham (includes borrower COT & rounding) 18,139.71
Kodiak Island Borough (includes borrower COT & rounding) 16,622.67
Deposit to Seward Reserve Fund 247,300.02
Municipality of Skagway (includes borrower COT & rounding) 4,247.51
City and Borough of Juneau (includes borrower project funds, COT & rounding) 3,034,853.42
City of Ketchikan (includes borrower project funds, COT & rounding) 2,064,605.08
Deposit to Ketchikan Reserve Fund 2,240,000.00
Bond Bank Costs of Issuance 241,855.10
Premiums for AMBB Reserve Surety and Bond Insurance 159,700.00
Total $130,583,497.46
Debt Service Reserve Deposits
AMBB Debt Service Reserves
On November 3, 2016, BNY will wire $150,000.00 to National Public Finance Guarantee
Corporation to fulfill the AMBB 2005 Resolution debt service reserve fund requirement related to
the 2016 Three and Four Bonds. Additionally, BNY will wire $9,700.00 to the same account,
representing insurance premiums related to certain maturities of the 2016 Three and 2016 Four
Bonds which carry National insurance. The following are wire instructions related to the 2005
Resolution Reserve requirement and insurance premiums:
Page 3
Alaska Municipal Bond Bank
Final Wire Instructions Memorandum
General Obligation and Refunding Bonds -2016 Series Three and 2016 Series Four
Bank Name: JP Morgan Chase Bank
City & State: New York, NY
Beneficiary: National PFG -- Premium
Account #: 304 6 99020
ABA #: 021-000-021
Policy Numbers: NP1404500 and NP1404510
City of Bethel Debt Service Reserve
On November 3, 2016, BNY will deposit $217,500.00 to the debt service reserve fund associated
with the City of Bethel 2016 Three loan.
City of Kodiak Debt Service Reserves
On November 3, 2016, BNY will retain $461,581.28 in the debt service reserve fund associated
with the City of Kodiak 2016 Three loans.
City of Seward Debt Service Reserves
On November 3, 2016, BNY will deposit $247,300.02 in the debt service reserve fund associated
with the City of Seward 2016 Three loan.
City of Ketchikan Debt Service Reserve
On November 3, 2016, BNY will deposit $2,240,000.00 to the debt service reserve fund associated
with the City of Ketchikan's 2016 Four loan.
Application of Bond Proceeds for Refunding Purposes
Prior Alaska Municipal Bond Bank Bonds
On November 3, 2016, BNY will deposit $102,947,946.82 to the escrow fund established to refund
prior Alaska Municipal Bond Bank bonds. Of this total, $27.82 will be held as cash and
$102,947,919.00 will be applied to the purchase of U.S. Treasury securities for defeasance of the
AMBB refunded bonds.
City and Borough of Juneau
On November 3, 2016, BNY will deposit $18,755,998.27 to the escrow fund established to refund
the City and Borough of Juneau's 2006B Bonds. Of this total, $10.27 will be held as cash and
$18,755,988.00 will be applied to the purchase of U.S. Treasury securities for defeasance of the
CBJ refunded bonds.
Alaska Municipal Bond Bank Proceeds
BNY will retain $241,855.10 associated with costs of issuance related to the 2016 Three and 2016
Four Bonds and make distributions according to Bond Bank instructions. In addition, AMBB will,
at a later date, reimburse the State of Alaska Department of Law $61,462.90 for payment of a
portion of bond counsel costs associated with the issuance of the 2016 Series Three and 2016
Series Four Bonds.
Distribution of Borrower Loan Proceeds
Petersburg Borough
On November 3, 2016, BNY will wire $11,663.31 to the Petersburg Borough. This amount
represents the funds associated with the Borough's costs of issuance funds and the rounding
amounts associated with its refunding loan. The following are wire instructions for funds that
will be wired from BNY to the Petersburg Borough:
Page
Alaska Municipal Bond Bank
Final Wire Instructions Memorandum
General Obligation and Refunding Bonds - 2016 Series Three and 2016 Series Four
Wells Fargo, N.A.
ABA Number: 121-000-248
Account Name: Petersburg Borough
Account Number: 26030659
Ref: Bond Bank Refunding
City of Nome
On November 3, 2016, BNY will wire $5,292.24 to the City of Nome. This amount represents the
funds associated with the City's costs of issuance funds and the rounding amounts associated
with its refunding loan. The following are wire instructions for funds that will be wired from
BNY to Nome:
Wells Fargo Bank
ABA # 121-000-248
Account Number: 1102112690
Account Name: City of Nome
Reference: City of Nome 2016 Refunding Bond
Contact Jake Slingsby - (907) 443-7688
Northwest Arctic Borough
On November 3, 2016, BNY will wire $14,085.38 to the Northwest Arctic Borough. This amount
represents the funds associated with the Borough's costs of issuance and the rounding amount
associated with its refunding loan. The following are wire instructions for funds that will be
wired from BNY to the Northwest Arctic Borough:
Northwest Arctic Borough
Wells Fargo Bank
ABA# 121-000-248
Account # 064111520
Attention: Angie Sturm
City of Seward
On November 3, 2016, BNY will wire $25,536.75 to the City of Seward. This amount represents
the funds associated with the City's costs of issuance and the rounding amount associated with its
refunding loan. The following are wire instructions for funds that will be wired from BNY to
Seward:
Wells Fargo, N.A.
ABA# 121-000-248
Account Number (BNF): 1100870474
Account Name: City of Seward
Bank Contact: Steve Manley (907) 224-5283
City of Wasilla
On November 3, 2016, BNY will wire $7,981.81 to the City of Wasilla. This amount represents the
funds associated with the City's costs of issuance and the rounding amount associated with its
refunding loan. The following are wire instructions for funds that will be wired from BNY to the
City of Wasilla:
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Alaska Municipal Bond Bank
Final Wire Instructions Memorandum
General Obligation and Refunding Bonds -2016 Series Three and 2016 Series Four
Wells Fargo Bank
ABA Routing #: 121-000-248
Account #: 0033221030
Account Name: City of Wasilla
Reference: 2016 Refunding Bond
Bank Contact: Stephanie Berta: 907-376-6606
City and Borough of Sitka
On November 3, 2016, BNY will wire $10,815.49 to the City and Borough of Sitka. This amount
represents the funds associated with the Borough's costs of issuance and the rounding amount
associated with its refunding loan. The following are wire instructions for funds that will be
wired from BNY to Sitka:
First National Bank Alaska Trust Department
Anchorage, Alaska
ABA #125-200-060
REF: 2040209816/56655000 Account number
Account name - City and Borough of Sitka Custody Account
Reference 2016 Refunding Bonds
Aleutians East Borough
On November 3, 2016, BNY will wire $29,678.27 to the Aleutians East Borough. This amount
represents the funds associated with the Borough's costs of issuance and the rounding amount
associated with its refunding loan. The following are wire instructions for funds that will be
wired from BNY to the Aleutians East Borough:
Key Bank/ Cleveland, Ohio
ABA #014-001-039
Benefit Account: 5064 Cash Processing
ATTN: lAS Service Center
Beneficiary: Aleutians East Borough
Account # 20122005596
Kenai Peninsula Borough
On November 3, 2016, BNY will wire $22,697.98 to the Kenai Peninsula Borough. This amount
represents the funds associated with the Borough's costs of issuance and the rounding amount
associated with its refunding loan. The following are wire instructions for funds that will be
wired from BNY to the Kenai Peninsula Borough:
Key Bank
Cleveland, Ohio
ABA #041001039
Acct #5064
FBO AMLIP- KPB 2016 Refunding Bonds 0025740.1
City of Bethel
On November 3, 2016, BNY will wire $18,111.35 to the City of Bethel. This amount represents the
funds associated with the City's costs of issuance and the rounding amount associated with its
refunding loan. The following are wire instructions for funds that will be wired from BNY to the
City of Bethel:
Page 6
Alaska Municipal Bond Bank
Final Wire Instructions Memorandum
General Obligation and Refunding Bonds - 2016 Series Three and 2016 Series Four
Wells Fargo Bank
ABA # 121-000-248
Account Number 0074503847
Reference: For the Account of the City of Bethel
Attn: Bobby Sutton (907) 543-1375
City of Kodiak
On November 3, 2016, BNY will wire $27,285.00 to the City of Kodiak. This amount represents
the funds associated with the City's costs of issuance and the rounding amounts associated with
its refunding loans. The following are wire instructions for funds that will be wired from BNY to
Kodiak:
First National Bank of Alaska
Routing Number: 125-200-060
Account Number: 30775217
Account Name: City of Kodiak General Account
City of Dillingham
On November 3, 2016, BNY will wire $18,139.71 to the City of Dillingham. This amount
represents the funds associated with the City's costs of issuance and the rounding amount
associated with its refunding loan. The following are wire instructions for funds that will be
wired from BNY to Dillingham:
Wells Fargo Bank, NA
ABA #121-000-248
Account #0022003096
For Credit to: City of Dillingham, AK
Wells Fargo Bank
512 Seward Street
Dillingham, Alaska 99576
Kodiak Island Borough
On November 3, 2016, BNY will wire $16,622.67 to Kodiak Island Borough. This amount
represents the funds associated with the Borough's costs of issuance and the rounding amount
associated with its refunding loan. The following are wire instructions for funds that will be
wired from BNY to Kodiak Island Borough:
Wells Fargo
ABA #: 121-000-248
Account Number 10502505
Attention: Jody (907) 486-3127
Municipality of Skagway
On November 3, 2016, BNY will wire $4,247.51 to the Municipality of Skagway. This amount
represents the funds associated with the Borough's costs of issuance and the rounding amount
associated with its refunding loan. The following are wire instructions for funds that will be
wired from BNY to Skagway:
Wells Fargo Bank
ABA# 121-000-248
Account # 0009030220
Wells Fargo Contact: Mitchell Jackson (907) 586-2460 ext. 4
Page 7
Alaska Municipal Bond Bank
Final Wire Instructions Memorandum
General Obligation and Refunding Bonds -2016 Series Three and 2016 Series Four
City and Borough of Juneau
On November 3, 2016, BNY will wire $3,034,853.42 to the City and Borough of Juneau. This
amount is comprised of $3,000,000 for the transit improvement projects and $34,853.42 for CBJ
costs of issuance and rounding amounts. The following are wire instructions for funds that will
be wired from BNY to Juneau:
Bank Name: First National Bank Alaska
City & State: Anchorage, AK
ABA #: 125200060
Account Name: City and Borough of Juneau
Account #: 6801641
City of Ketchikan
On November 3, 2016 BNY will wire $2,064,605.08 to the City of Ketchikan. This amount is
comprised of $2,000,000 for the harbor improvement projects and $64,605.08 for Ketchikan costs
of issuance and rounding amounts. The following are wire instructions for funds that will be
wired from BNY to the City of Ketchikan:
Wells Fargo Bank, NA - San Francisco, CA
ABA #121-000-248
BNF: 0011030011
ACCOUNT NAME: City of Ketchikan
Reference: City of Ketchikan 2016 Port Refunding and Improvement Loan
The table below present the CUSIP numbers associated with each maturity of the 2016 Series
Three Bonds:
2016 Series Three Bonds
CUSIP Number
Due Par Amount Coupon 01179R
December 1, 2016 $ 460,000 2.00% 5M6
December 1, 2017 7,150,000 2.00% SN4
December 1, 2018 9,110,000 4.00% SF9
December 1, 2019 8,220,000 4.00% SQ7
December 1, 2020 9,105,000 4.00% SR5
December 1, 2021 8,230,000 4,00% SS3
December 1, 2022 4,490,000 5.00% ST1
December 1, 2023 4,885,000 5.00% SU8
December 1, 2024 4,450,000 5.00% SV6
December 1, 2025 4,735,000 5.00% SW4
December 1, 2026 5,005,000 5.00% SX2
December 1, 2027 4,855,000 5.00% SYO
December 1, 2028 2,755,000 5,00% 5Z7
December 1, 2029 675,000 3.00% TA1
December 1, 2030 700,000 3.125% TB9
December 1, 2031 720,000 3.125% TC7
December 1, 2033 1,535,000 3.25% TD5
December 1, 2037 3,355,000 3,375% TE3
Page 8
Alaska Municipal Bond Bank
Final Wire Instructions Memorandum
General Obligation and Refunding Bonds -2016 Series Three and 2016 Series Four
The table below present the CUSIP numbers associated with each maturity of the 2016 Series Four
Bonds:
2016 Series Four Bonds
CUSIP Number
Due Par Amount Coupon 01179R
December 1, 2016 610,000 2.00% TFO
December 1, 2017 950,000 3.00% TG8
December 1, 2018 990,000 5.00% TH6
December 1, 2019 1,045,000 5.00% TJ2
December 1, 2020 1,090,000 5.00% TK9
December 1, 2021 1,145,000 5.00% TL7
December 1, 2022 1,205,000 5.00% TM5
December 1, 2023 1,260,000 5.00% TN3
December 1, 2024 1,325,000 5.00% TP8
December 1, 2025 1,390,000 5.00% TQ6
December 1, 2026 1,460,000 5.00% TR4
December 1, 2027 1,535,000 5.00% TS2
December 1, 2028 1,615,000 5.00% TTO
December 1, 2029 1,690,000 5.00% TU7
December 1, 2030 1,780,000 5.00% TV5
December 1, 2031 1,865,000 5.00% TW3
December 1, 2032 1,960,000 5.00% TX1
December 1, 2033 2,055,000 5.00% TY9
December 1, 2034 2,165,000 5.00% TZ6
December 1, 2035 2,265,000 5.00% UA9
If you have any questions related to this memo or the accompanying pages, please contact Chip
Pierce at (503) 719-6113. Thank you for your assistance.
Page 9